IG Forex Broker: Fees, Spreads, and Commission (Explained)

Contents

IG broker review IG broker regulation How to open an account IG broker fees IG broker commission IG commissions and fees others Conclusion

12 months agoDecember 30, 2023 4:00 pm

Before you begin trading with a broker, you have to know the numerous trading and non-trading expenses. In this guide, we help you to know more about IG Forex Broker’s fees, spreads, and commissions.

Learn about trading expenses, including deposit and withdrawal fees, spread costs, and additional charges.

IG broker review

Established in 1974 and listed on the London Stock Exchange, IG acts as a market maker. It operates in eight Tier 1 countries, two Tier 2 jurisdictions, and one Tier 4 jurisdiction.

The broker provides a comprehensive choice of investment alternatives, trading platforms, advanced charting tools, and expert trading services, all with competitive commissions and costs.

IG offers a diverse range of products, including CFDs on currency pairs, stock indexes, stocks, ETFs, commodities, bonds, futures, and bonds. This diverse set of offers guarantees that traders have access to a wide range of financial instruments to satisfy their investing objectives.

IG broker regulation

FCA UK: IG Markets Ltd UK – Financial Conduct Authority FCA
BaFin Germany: IG Europe GmbH – German Federal Financial Supervisory Authority BaFin
ASIC Australia: IG Pty Ltd – Australian Securities & Investments Commission ASIC
CFTC & NFA USA: IG US LLC – Commodity Futures Trading Commission CFTC and National Futures Association NFA
FINMA Switzerland: IG Bank S.A. – Swiss Financial Market Supervisory Authority FINMA
MAS Singapore: IG Asia Pte Ltd – Monetary Authority of Singapore MAS
DFSA Dubai: IG Limited – Dubai Financial Services Authority DFSA
FSCA South Africa: IG Markets South Africa Limited – Financial Sector Conduct Authority FSCA
JSDA Japan: IG Securities Limited – Japan Securities Dealers Association JSDA
BMA Bermuda: IG International Limited – Bermuda Monetary Authority BMA

How to open an account

Step 1: Visit the IG website.

Step 2: Follow their instructions for account creation.

Step 3: Provide proof of ID and address.

Step 4: Respond during business hours.

Step 5: Verify the documents using their preferred method.

Step 6: Start trading!

Note: Account verification typically takes some processing time, so be patient.

IG broker minimum deposit

There is no minimum deposit for bank transfers.
Start at $250 or equivalent in your base currency.
The minimum deposit for card payments (debit/credit) is $50.

IG broker maximum deposit

The maximum deposit per transaction is $99,999 for debit cards.
The maximum deposit per transaction is $50,000 for credit cards.
For larger deposits, IG recommends using a bank transfer.

IG broker fees

Deposit fee

IG Markets does not charge an internal deposit fee; traders receive the full-deposited amount. Third-party payment processing costs and a 0.50% currency conversion fee may apply if currencies differ.

Withdrawal fee

There is no internal withdrawal fee, but third-party payment processor fees and currency conversion costs may apply. $15 charges apply for withdrawing funds via wire transfer. Additional charges could occur if withdrawals for non-trading purposes.

Inactivity fee

IG Markets applies a £12 monthly fee after 24 months of account inactivity. Many traders may avoid this fee by periodically checking their portfolios.

Guaranteed stop loss premium – UK only

0.3% fee if your guaranteed stop loss order is triggered.

Swap fees – overnight positions

Swap fees are charged nightly for holding positions overnight. Reflect the interest rate difference between the currencies in the forex pair.

Currency conversion

0.5% fee for converting your base currency to the trade currency.

Rebates US clients

5-15% based on monthly trading volume.

Active trader rebates

Commission discounts for high-volume traders, with 10% and 20% rebates.

Learn more: How to choose a forex broker

IG broker commission

IG Markets offers competitive fees and commissions across various asset classes.

IG Forex broker fees

Minimum markup over raw spreads: 0.60 pips to 0.90 pips.
IG forex broker commission is $0.00 to $6.00 per 1.0 standard round lot.
Total fees are $6.00 to $9.00 per 1.0 standard round lot.

Equities UK

Minimum markup over raw spreads: Asset-dependent.
Minimum commission is 0.10% £10.00 minimum.
Total fees are £10.00 + spread x volume.

Equities EU

Minimum markup over raw spreads: Asset-dependent.
Minimum commission is 0.10% €10.00 minimum.
Total fees are €10.00 + spread x volume.

Equities US

Minimum markup over raw spreads: Asset-dependent.
Minimum commission is $0.02 per share $15.00 minimum.
Total fees are $15.00 + spread x volume.

Equities Australia

Minimum markup over raw spreads: Asset-dependent.
The minimum commission is 0.08% $7.00 minimum.
Total fees are $7.00 + spread x volume.

Cryptocurrencies

Minimum markup over raw spreads: 1.20 pips to 32.0 pips.
The minimum commission is $0.
Total fees are $12.00 to $32.00 per 1.0 standard round lot.

Indices

Minimum markup over raw spreads: 0.80 pips to 2.40 pips.
The minimum commission is $0.
Total fees are$8.00 to $24.00 per 1.0 standard round lot.

Commodities

Minimum markup over raw spreads: 0.10 pips to 2.8 pips.
The minimum commission is $0.
Total fees are $2.00 to $28.00 per 1.0 standard round lot.

IG commissions and fees others

You can find IG’s fees for other asset classes below.

IG stock index options commission
German stock index options	$10.8
UK stock index options	$12.5
US stock index options	$10.0

Extra services and charges for CFDs and share trading

Service	Charge
Direct Market Access (DMA)	No charge for trade CFDs on forex and shares, or share dealing Monthly exchange fee for live DMA prices.
Live price data feeds	Free real-time share prices through derived pricing Monthly fee for official live prices from exchanges.
ProRealTime charts	$40/month, refunded if you place four or more trades a month.
Account documentation fee	$50 fee for accounts without a mandatory W-8 or W-9 form before the dividend ex-date of a qualifying trade on a US stock.

Strengths

Lower spreads and commissions are structures for forex and commodities.
High-volume trader rebates can significantly reduce fees.
It has a variety of investment options, like CFDs, equities, and ETFs.

Considerations

“Commission-free” forex trading usually involves spreads.
Equity and ETF fees might not be the most competitive.
Non-trading fees like inactivity fees can add up.
Spreads can vary depending on market conditions.

Conclusion

IG, the world’s No.1 CFD provider, offers a secure and innovative trading environment trusted by millions. For over 45 years, they have been at the forefront of the industry, providing award-winning platforms with advanced tools and in-depth market research. Whether you are a seasoned trader or just starting, IG’s global reach, and comprehensive support ensure you have everything you need to succeed in today’s dynamic markets.

IG Markets offers a comprehensive range of financial markets, products, and competitive fees, making it a strong choice for both new and experienced traders. However, it is essential to be aware of the various fees that may apply. On the other hand, you can also find the best forex brokers for beginners.

Pro Tip

Compare IG Markets with other trusted forex brokers to find the best fit for your needs. Also, get the opportunity to learn in-depth analysis on stocks, banking, crypto, investing, and much more.